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by nprz 1969 days ago
I mean the WSB user count has grown from 2.2m on Monday to now 7.5m. If 5 million of those users all bought $100 worth of GME that's half a billion, if they bought $1000, that's 5 billion.
2 comments

> the WSB user count has grown from 2.2m on Monday to now 7.5m. If 5 million of those users all...

Is 5/7.5M users of any forum did anything it would be some kind of record level conversion, let alone speculating $100.

On average I don't think $100 is that crazy. Most haven't YOLO-ed anything. While many YOLO-ed for 1-2 shares, there are many who have YOLO-ed for thousands to tens of thousands of dollars.
I'll also add that tons of people I know who have never traded in the markets woke up Tuesday and Wednesday and decided to buy a single share for the lulz. I'm fairly convinced 70% of the volume may have been due to retail.
Over 700 million shares were traded last week, so even if every WSB user bought 10 shares, that wouldn't account for close to a majority of the activity.
Indeed, figures from citadel shows retail volumes at around 30%.

https://www.bloomberg.com/opinion/articles/2021-01-29/reddit...

Volume is meaningless, as the same share might be traded back and forth several times, e.g HFT or order flow buyers flipping stocks within microseconds.
Would HFT traders flip a stock 10 times among each other just to fulfill a single Redditor's buy order? (Honest question, I don't know enough about standard HFT practices to confidently guess.)